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LexaTrade Review 2021, Safety, Platforms And Fees

A LexaTrade demo account allows traders to test ideas and familiarize themselves with real market conditions in a risk-free environment. The only difference between the demo and real money account is that you’re trading with $40,000 worth of fictitious money. Hey i think that people should seek friends or anybody who have used plus 500 b4 opening a real account. I am using a demo account and its working just fine- im earning quite a lot. However, i must say that when people uses real money, they tend to change their way of thinking and behavior,and so it might affect the performance in this trading platform. I cannot say that people should use this platform, but its the best so far from the other platforms out there and there’s unlimited demo unlike others. Should practice and get used to the way plus 500 works before actually opening a real account because your real-life money is at stake; either big or small.

LexaTrade broker reviews

Our personal experience of trading with LexaTrade was very good. LexaTrade customer service support multiple languages from all over the world. Having a broker that can hire people from various locations in the world who can better communicate with you in your local language is a huge advantage well trying to deal with issues. Take time to look around the LexaTrade platforms and train yourself to think more systematically and logically about the markets.

I have a fulfilling 9 to 5 job as a digital marketer, but I also have several side gigs I enjoy working on. When I decided to launch my own website I took on the challenge of learning how to program, as I wanted my site coded from scratch. I have to say that finding online educational resources was a blessing. If you intend to use an external platform and connect it to LexaTrade, such as MetaTrader 4 or MetaTrader 5, I am afraid this is not possible. You’ll have to use the web-based broker that LexaTrade makes available to you. With LexaTrade it’s possible to choose from more than 10 types of charts, so you can tailor your charts to the type that suits you best.

Types Of Accounts

LexaTrade account are free, and the user can choose the kind of account while registering. The difference between the demo and the real account is that the trader in the demo account cannot use real money.

LexaTrade broker reviews

You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 5 minutes or so to complete the account opening process. As with most brokers, margin requirements do vary depending on the instruments. With LexaTrade, the minimum and maximum trade requirements vary depending on the trader and the instrument. Below we give an overview on the account types that LexaTrade offer.

Instruments Traded

Since they aim to keep everything uncomplicated, LexaTrade offers one live account which requires a minimum deposit of $100. Deposits can be made via Credit and Debit investment for beginners cards like Visa or Mastercard, which is one of the preferred and fastest banking methods. Web wallets like Moneybookers, Skrill, and PayPall, are also supported.

LexaTrade broker reviews

I just use the demo and if i get really good at this i probably would change to real account and invest the lowest possible first in-case of any risk of losing them all. Im not trying to side any parties, but i think people should know the risks of things before doing something.

Customer Support

As a market maker, the broker tends to charge these spreads. The spreads are the differences forex between the cost of a CFD asset you bought and the price you sold the same asset.

LexaTrade broker reviews

During our account opening testing, our account was opened within a day. As is the norm in the brokerage industry, LexaTrade generates its revenues principally from customer trades that “cross” the bid/ask spread, which are competitive within the industry. The company does not charge commissions on any client transactions, and the spread does not vary with trade size. Guaranteed stop loss orders, which protect the trader from market gap risk, are available on some instruments depending on market conditions but they are subject to a wider spread.

72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Portfolio Analysis Tools

They can place and screen their trades physically on LexaTrade’s web-based or mobile trading platform. This platform is focused on those individuals who simply need a structure for executing trades. Moreover, traders can also lexatrade broker reviews ensure ‘Close at Profit’ or ‘Close at Loss’ value levels for exclusive instruments which can restrict the trader’s risk. This is an important feature we generally search for and one not offered by most of the CFD suppliers.

LexaTrade broker reviews

Compared to other commission-based pricing environments, they rank among the better ones. Before you trade with this provider, you should make sure you understand CFDs. This adds a significant degree of transparency to its operations and to the company’s solvency and liquidity. This is crucial to protect the money it holds for its investors. LexaTrade is legit and regulated by the top financial authorities. These include the Monetary Authority of Singapore , Financial Conduct Authority of the United Kingdom , and the Australian Securities and Investment Commission .

LexaTrade Video Review

Clients can select from 2,000 instruments, scrutinize their selection on a tailor-made technical analysis chart, and place their trades with just a few clicks from the same window. The disadvantage of this broker is a minimum deposit of $100 for standard and micro-accounts. The processing time is instant but may take longer for bank transfers which may take up to two days. Plus 500 is an online forex trading company ICO (cryptocurrencies) with its headquarters in Israel. Plus 500 was established in 2008 and over the years it has been able to establish its name as among the most credible brokers globally. Its global presence has further been facilitated by it having a lot of subsidiaries worldwide I various countries. CFDs are frequently used to trade currencies and LexaTrade has no shortage of instruments to trade both pairs and spot prices.

LexaTrade broker reviews

While having its headquarters in Israel, LexaTrade has branches and subsidiaries spread globally in the UK, Cyprus, Australia, Bulgaria, and Singapore. CFDs are risky because bad trades could be a complete loss of capital – there’s no exiting a trade early if the technicals turn against you. Since traders can lose all the capital they’ve entered into a trade on a bad outcome, CFDs are not recommended for new or risk-averse traders. If the thought of losing your entire investment on a either/or bet makes your stomach churn, these types of instruments may not be for you. LexaTrade doesn’t charge commission and only profits off the spread, which is the difference between the buy and sell price of a specific security. But LexaTrade is not a broker for beginners — the education materials are sparse and CFDs are risky derivatives capable of sapping out all of an investor’s capital.

Their spread is very competitive and is one of the lowest in the market – more on this below. LexaTrade can only return funds to the e-wallet or account it was deposited from. Slippage can be avoided by adding a guaranteed stop order to your position. This option is found directly under the ‘Close at loss‘ or ‘Close at profit‘ boxes.

  • No commissions are charges at all while trading with plus 500.
  • This means that LexaTradehave publically listed and you can officially buy shares in LexaTrade on one of the worlds global stock market exchanges.
  • You can also use your smartwatch, but we stuck to a conventional smartphone and tested the mobile iOS app.
  • The negative side of the platform is that it is not customizable.
  • LexaTrade has eight regulatory licenses offering traders a choice between tighter regulation or a business-friendly trading environment.
  • LexaTrade offers you the possibility to create logins for its platform with your Facebook or Google account, or you can choose to log in with any email address you have.

Provide financial details (annual income; savings and investments; source of funds). LexaTrade clients’ funds are protected with compensation schemes of £85,000 and €20,000 under the FCA and CySEC, respectively. Finally, wewithdrew our fundsto see if there are any issues with the withdrawal process. We alsoreached out to customer lexatrade scam supportto solve the issues we faced. “Popular Shares” gives you a quick overview of the biggest share options in the world. However, if you want to look at companies based on their country of origin, you can click on UK, for example, and see share prices and buy/sell options for the likes of BP, Tesco, Rolls-Royce and more.

You should consider whether you can afford to take the high risk of losing your money before trading. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. LexaTrade offers vanilla call and put options that work the same way as exchange-traded versions; however, they are non-standardised. This means that these options are adjustable and customis[able depending on the client’s strategy goals and risk tolerance. However, unlike much of its competition, LexaTrade doesn’t offer the popular MetaTrader 4 platform, which provides more functionality and customisation options for clients. WebTrader is appealing because it is easy to use with layouts that experienced traders will feel familiar with. LexaTrade offers clients in over fifty countries worldwide access to a comprehensive product line including forex, individual shares, stock indices, ETFs, options, commodities, and cryptocurrencies.

On the positive side, the broker holds six regulatory licenses. It is also listed on London Stock Exchange and is a constituent of the FTSE 250 Index. For our second account, the experience was completely the opposite . After trading US stocks and ETFs, LexaTrade asked us to fill in the US W-8BEN form. It has to publish its financial details every quarter to comply with UK regulations. LexaTrade holds 6 regulatory licensesfrom several top regulators, like the United Kingdom’s FCA, Singapore’s MAS, and Australia’s ASIC.

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